Economic Development Initiative

New Game PlanNew Game Plan

A Catalyst for Community A Catalyst for Community SustainabilitySustainability

Sustainability: n.

meeting the needs of the present without compromising the ability of

future generations to meet their own needs.

…………….86% of local taxes are based on residential use

International Institute for Sustainable Development defines:

Current SituationCurrent Situation•Lack of DiversityLack of Diversity

85% residential funded85% residential funded

2% Industrial funded 2% Industrial funded

Collapse of our primary job sectorCollapse of our primary job sector

UnsustainableUnsustainable

Residential85%

Commercial11%

Industrial2%

Ag1%

Other1%

Cost of Service StudyCost of Service Study

Residents Residents BusinessBusiness

Pays: $1.00 Pays: $1.00 Pays: $1.00Pays: $1.00

Receives Receives $1.18 Receives: $.25$1.18 Receives: $.25in services:in services: in servicesin services

2008 University of California Study2008 University of California Study

Importance of DiversityImportance of Diversity

Current Situation Current Situation (jobs)(jobs)• Collapse of construction industryCollapse of construction industry

• Highest unemployment in StateHighest unemployment in State

• Seeking employment outside countySeeking employment outside county

• Brain Drain- graduates leaving areaBrain Drain- graduates leaving area

UnemploymentUnemployment

Our Competitors

…………….85% of business referrals will need existing facilities

Our CompetitorsOur Competitors

• Mature infrastructureMature infrastructure

• Reduced land costsReduced land costs

• Lower leasing ratesLower leasing rates

• Existing facilitiesExisting facilities

Our CommunityOur Community

• Lack existing facilitiesLack existing facilities

• Lack infrastructureLack infrastructure

• Lack available Industrial landLack available Industrial land

• Lack competitive lease ratesLack competitive lease rates

• Lack of consistent incentive fundingLack of consistent incentive funding

Community Strengths

…………….17% unemployment means a ready labor force

Community StrengthsCommunity Strengths

• Transportation networkTransportation network

• Readily available workforce Readily available workforce

• Advanced communication networkAdvanced communication network

• Cooperative government partnersCooperative government partners

• Quality of LifeQuality of Life

The Plan

……………..dedicated .25 mil per $1,000 toward economic development

The PlanThe Plan

• Voter approved economic Voter approved economic

development initiativedevelopment initiative

• Dedicated funds for economic Dedicated funds for economic

developmentdevelopment

• .25 mil for 20 years.25 mil for 20 years

The PlanThe Plan

Capital Funding Projects Capital Funding Projects 60% 60%

Funding IncentivesFunding Incentives 30% 30%

Local Expansion/RetentionLocal Expansion/Retention

Enhanced Marketing of Community 10%Enhanced Marketing of Community 10%

Funds generated, approximately Funds generated, approximately $1.8 million per year dedicated to $1.8 million per year dedicated to addressing:addressing:

Cost to ResidentsCost to Residents

Current Median Home Price $120,600

Annual cost to property owner

$17.65

Example $150,000 $25.00$200,000 $37.50

AdministrationAdministration

• BOCC will make decisions regarding BOCC will make decisions regarding

expenditureexpenditure

• Enterprise Flagler provide support/adviceEnterprise Flagler provide support/advice

Board comprised of public and private Board comprised of public and private sectorsector

As well as elected officialsAs well as elected officials

Community Action

…………….17% unemployment means a ready labor force

Important DatesImportant Dates

Asking elected officials to support allowing Asking elected officials to support allowing citizens to vote on this matter on November 2, citizens to vote on this matter on November 2, 2010 ballot2010 ballot

June 7, 2010June 7, 2010 BOCC Authorization BOCC Authorization

June 18, 2010June 18, 2010 Election Ballot DeadlineElection Ballot Deadline

November 2, 2010November 2, 2010 ElectionElection